When divorcing couples think about dividing their assets, they’re usually worried about their home, their pensions, and other more physical or financial properties. However, that’s not all the assets you and your spouse have accumulated throughout your marriage. What do you do about your digital assets?
Digital assets can include items such as airline miles, a subscription to Netflix, or a shared Spotify account. It’s those little things that you used together that can now cause trouble as you go through a divorce.
Dividing digital assets can be tricky as not everything has a simple monetary value. You will have to carefully determine the following:
- The worth of each digital asset
- Which one of you will keep the account or if you will cancel it completely
- And, if one of you does keep the account, how that spouse will pay the other the same value of the asset
After you’ve made a list of all your digital assets, here are a few options available for you to split them:
- Divide them evenly. This may not be possible with every kind of digital asset but can apply for something like airline miles. For example, if you have 100,000 miles saved, you can easily divvy that up in half.
- Swap assets of similar value. Maybe you use the Spotify account more than your spouse. You could offer to keep access to this account but give your spouse the Netflix account. For airline miles, if you only have enough miles for one flight, it might not be worth dividing in half. Instead, you can keep the miles and offer to pay out the value of miles to your spouse.
Dividing assets can be challenging enough without thinking about digital property. However, more and more couples share online accounts that must be included in divorce settlements. Make sure to review all your joint subscriptions and consult with an attorney if you need help dividing them as evenly as possible.